Overview

 

Growth of $10,000

10-year period ended 3/31/14

  • Class A at NAV

Average Annual Returns (%) as of Mar 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 1.34 2.54 2.54 21.95 13.30 17.26 7.27
Fund w/Max Sales Charge -4.49 -3.34 -3.34 14.93 11.08 15.88 6.64
Return After Taxes on Dist w/Max Sales Charge 13.69 10.49 15.45 6.36
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge 9.35 8.64 12.86 5.38
Russell 1000 Value Index1 2.39 3.02 3.02 21.57 14.79 21.74 7.58
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. After-tax returns are calculated using certain assumptions, including using the highest historical individual federal income tax rates and do not reflect the impact of state/local taxes. Actual after-tax returns depend on a shareholder's tax situation and the actual characterization of distributions and may differ from those shown. After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or shares held by nontaxable entities. Return After Taxes on Distributions may be the same as Return Before Taxes for the same period because no taxable distributions were made during that period. Return After Taxes on Distributions and Sale of Fund Shares may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares. Before-tax and after-tax returns for other classes of shares offered by the Fund are different. Max Sales Charge: 5.75%.

Fund Facts as of Mar 31, 2014

Class A Inception 12/27/1999
Investment Objective Long-term, after-tax return
Total Net Assets $620.4M
Minimum Investment $1000
Expense Ratio2 1.24%
CUSIP 277911657

Top 10 Holdings (%)3,4 as of Mar 31, 2014

JPMorgan Chase & Co
Merck & Co Inc
American Express Co
Wells Fargo & Co
Pfizer Inc
Exxon Mobil Corp
Occidental Petroleum Corp
Chevron Corp
CVS Caremark Corp
Gilead Sciences Inc
Total 26.92


Portfolio Management

Michael R. Mach, CFA Managed Fund since inception
Matthew F. Beaudry, CMFC, CIMA Managed Fund since 2009
John D. Crowley Managed Fund since 2009
Stephen J. Kaszynski, CFA Managed Fund since 2009

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Average Annual Returns (%) as of Mar 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years
Fund at NAV 1.34 2.54 2.54 21.95 13.30 17.26 7.27
Fund w/Max Sales Charge -4.49 -3.34 -3.34 14.93 11.08 15.88 6.64
Return After Taxes on Dist w/Max Sales Charge 13.69 10.49 15.45 6.36
Return After Taxes on Dist & Sales of Fund Shares w/Max Sales Charge 9.35 8.64 12.86 5.38
Russell 1000 Value Index1 2.39 3.02 3.02 21.57 14.79 21.74 7.58
Morningstar™ Large Value Category5 1.82 2.27 2.27 20.74 13.09 19.82 6.91
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. After-tax returns are calculated using certain assumptions, including using the highest historical individual federal income tax rates and do not reflect the impact of state/local taxes. Actual after-tax returns depend on a shareholder's tax situation and the actual characterization of distributions and may differ from those shown. After-tax returns are not relevant to shareholders who hold shares in tax-deferred accounts or shares held by nontaxable entities. Return After Taxes on Distributions may be the same as Return Before Taxes for the same period because no taxable distributions were made during that period. Return After Taxes on Distributions and Sale of Fund Shares may be greater than or equal to Return After Taxes on Distributions for the same period because of losses realized on the sale of Fund shares. Before-tax and after-tax returns for other classes of shares offered by the Fund are different. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund at NAV 14.68 11.14 19.02 9.34 -35.04 17.44 9.02 -3.21 15.45 31.27
Russell 1000 Value Index1 16.49 7.05 22.25 -0.17 -36.85 19.69 15.51 0.39 17.51 32.53

Fund Facts

Expense Ratio2 1.24%
Class A Inception 12/27/1999
Distribution Frequency Annually


Risk Measures (3 Year)6 as of Mar 31, 2014

Alpha -0.92
Beta 0.97
R-Squared 98.33
Standard Deviation 12.96
Sharpe Ratio 1.02


Morningstar™ Ratings as of Mar 31, 2014

Time Period Rating Rating (Load Waived) Funds in
Large Value
Category
Overall ** *** 1068
3 Years ** *** 1068
5 Years * ** 951
10 Years *** *** 626
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Apr 22, 2014 $23.41 $0.10
Apr 21, 2014 $23.31 $0.08
Apr 17, 2014 $23.23 $0.01
Apr 16, 2014 $23.22 $0.24
Apr 15, 2014 $22.98 $0.16
Apr 14, 2014 $22.82 $0.16
Apr 11, 2014 $22.66 $-0.20
Apr 10, 2014 $22.86 $-0.52
Apr 09, 2014 $23.38 $0.26

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 12, 2013 $0.13380 $21.86
Dec 13, 2012 $0.36790 $18.14
Dec 21, 2011 $0.24500 $15.92
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 12, 2013 $0.04110 $0.85780 $21.86
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is as of month-end for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. For the Eaton Vance Fund's performance as of the most recent month end, please refer to eatonvance.com. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns shown at NAV unless noted otherwise. Returns for other classes of shares offered by the Fund are different. It is not possible to invest in an index.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)3,8 as of Mar 31, 2014

U.S. Common Stocks 93.72
Foreign Common Stocks 4.49
Cash & Other Assets 1.79
Total 100.00

Portfolio Statistics as of Mar 31, 2014

Average Market Cap $120.9B
Price/Earnings Ratio 14.16
Number of Holdings 67
Price/Book Ratio 2.07


GICS Sector Breakdown (%)3 as of Mar 31, 2014

Sector Fund Russell 1000 Value Index1
Consumer Discretionary 6.63 6.41
Consumer Staples 4.35 5.83
Energy 13.90 14.53
Financials 31.01 29.09
Health Care 14.48 13.53
Industrials 11.43 10.17
Information Technology 8.46 8.96
Materials 1.86 2.94
Telecom Services 1.79 2.47
Utilities 4.28 6.08
Cash 1.81 0.00


Fund Holdings (%)3,9 as of Feb 28, 2014

Holding % of Net Assets
Merck & Co Inc 2.99%
American Express Co 2.98%
Wells Fargo & Co 2.97%
Gilead Sciences Inc 2.90%
JPMorgan Chase & Co 2.87%
Pfizer Inc 2.79%
Occidental Petroleum Corp 2.68%
Exxon Mobil Corp 2.59%
Chevron Corp 2.33%
CVS Caremark Corp 2.32%
View All

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & Analysis

Quarterly Commentary

 

No commentary information is available.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Attribution

 

No attribution information is available.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. Market conditions may limit the ability to generate tax losses or to generate dividend income taxed at favorable tax rates. The Fund's ability to utilize various tax-managed techniques may be curtailed or eliminated in the future by tax legislation or regulation. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
Michael R. Mach, CFA

Michael R. Mach, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 1999

Mike Mach is a vice president of Eaton Vance Management, a member of the Equity Strategy Committee and lead portfolio manager of Eaton Vance's large-cap value team.

Mike's experience in the investment management industry dates to 1976. Prior to joining Eaton Vance in 1999, Mike was a portfolio manager with Putnam Investments, Freedom Capital and Delaware Investment Advisers.

Mike earned a B.B.A. in marketing and psychology from the University of Wisconsin, an M.A. in social sciences with a concentration in psychology from the University of Chicago, and an M.B.A. with concentrations in finance, economics and international business from the University of Chicago Booth School of Business.

His commentary has appeared in Barron's, the Chicago Tribune, Financial Times, Investor's Business Daily, Practical Accountant, USA Today and The Wall Street Journal. He is a past director and officer of the Boston Security Analysts Society and is a CFA charterholder.

Education
  • B.B.A. University of Wisconsin
  • M.A.,M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since inception
Biography
Matthew F. Beaudry, CMFC, CIMA

Matthew F. Beaudry, CMFC, CIMA

Vice President, Eaton Vance Management
Joined Eaton Vance 2006

Matt Beaudry is a vice president of Eaton Vance Management, a member of the Equity Strategy Committee and portfolio manager on Eaton Vance's large-cap value team.

Matt's experience in the investment management industry dates to 1984. Prior to joining Eaton Vance in 2006, he was a director and senior portfolio manager at AllianceBernstein Investment Research and Management. Matt has additional investment experience with State Street Research and Management Company, Financial Research Corporation, Putnam Investments and PricewaterhouseCoopers.

Matt earned a B.A. from the College of the Holy Cross. He is a Certified Public Accountant (CPA), a Chartered Mutual Fund Consultant (CMFC) and a Certified Investment Management Analyst (CIMA).

Education
  • B.A. College of the Holy Cross
Experience
  • Managed Fund since 2009
Biography
John D. Crowley

John D. Crowley

Vice President, Eaton Vance Management
Joined Eaton Vance 1998

John Crowley is a vice president of Eaton Vance Management, a member of the Equity Strategy Committee and portfolio manager on Eaton Vance's large-cap value team. Additionally, John serves as lead portfolio manager on Eaton Vance's focused large-cap value team.

John began his career in the investment management industry in 1998 when he joined Eaton Vance.

John earned a B.A. and an M.A. from the Catholic University of America in Washington, D.C. and an M.B.A. from Babson College's Olin Graduate School of Business. He is a member of the CFA Institute and the Boston Security Analysts Society.

Education
  • B.A.,M.A. Catholic University of America
  • M.B.A. F.W. Olin Graduate School of Business, Babson College
Experience
  • Managed Fund since 2009
Biography
Stephen J. Kaszynski, CFA

Stephen J. Kaszynski, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2008

Steve Kaszynski is a vice president of Eaton Vance Management, a member of the firm's Equity Strategy Committee and portfolio manager on Eaton Vance's large-cap value team.

Steve's experience in the investment management industry dates to 1976. Prior to joining Eaton Vance in 2008, he was managing director and head of U.S. Equities for Credit Suisse Asset Management. Steve has additional investment experience with INVESCO and Gardner & Preston Moss.

Steve earned a B.A. with honors in economics from Knox College and an M.B.A. from the University of Chicago Graduate Booth School of Business. He is a CFA charterholder and is a member of the Boston Security Analysts Society.

Education
  • B.A. Knox College
  • M.B.A. Booth School of Business, University of Chicago
Experience
  • Managed Fund since 2009

Fund Literature

Fund Literature

Annual Report

Fact Sheet

Estimated Capital Gains

Full Prospectus

Holdings-1st or 3rd fiscal quarters-www.sec.gov

SAI

Think Performance Think Eaton Vance

Semi-Annual Report

Summary Prospectus

Actively Managed Equities

XBRL


 

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